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U.S. Fed survey finds bank loan demand increases, standards ease

11-01-2012 08:07 BJT

WASHINGTON, Oct. 31 (Xinhua) -- Banks in the U.S. reported stronger demand for auto loans and commercial and residential mortgages during the third quarter, according to a U.S. Federal Reserve survey released on Wednesday.

"Significant fractions of banks reported a strengthening of demand for commercial real estate loans, residential mortgages, and auto loans, on balance, while demand for most other types of loans was about unchanged," the U.S. central bank said in its October survey of senior loan officers.

However, only "small fractions of" U.S. banks reported easing standards for business lending and some categories of consumer lending over the past three months, the Fed noted.

A modest share of respondents reported an easing of standards on credit card and auto loans, but respondents reported "little change" in residential real estate lending standards, according to the survey.

The U.S. central bank last month announced a third round of quantitative easing program in which it would purchase 40 billion dollars of mortgage-backed securities to further shore up the housing market.

The quarterly poll of 68 domestic U.S. banks and 23 branches and agencies of foreign banks, also found that loan standards to European banks had continued to be tightened.

 

Editor:James |Source: Xinhua

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